HomeMy WebLinkAbout19556 ORD - 11/25/1986AN ORDINANCE
AUTHORIZING AND ALLOWING, UNDER THE ACT GOVERNING THE TEXAS
MUNICIPAL RETIREMENT SYSTEM, "UPDATED SERVICE CREDITS" IN
SAID SYSTEM FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF
SUCH SYSTEM WHO PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY
OF CORPUS CHRISTI; PROVIDING FOR INCREASED PRIOR AND CURRENT
SERVICE ANNUNITIES FOR RETIREES AND BENEFICIARIES OF
DECEASED RETIREES OF THE CITY; AND ESTABLISHING AN EFFECTIVE
DATE FOR SUCH ACTIONS; AND DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 63.401 through
63.403 of Title 110B, Revised Civil Statutes of Texas, 1925, as amended, each
member of the Texas Municipal Retirement System who has current service credit
or prior service credit in said System in force and effect on the 1st day of
January 1986 by reason of service in the employment of the City of Corpus
Christi, and on such date has at least 36 months of credited service with said
system, shall be and is hereby allowed "Updated Service Credit" (as that term is
defined in subsection (d) of Section 63.402 of said title) in an amount that is
100 percent of the "base Updated Service Credit" of the member (calculated as
provided in subsection (c) of Section 63.402 of said title). The Updated
Service Credit hereby allowed shall replace any Updated Service Credit, prior
service credit, special prior service credit, or antecedent service credit
previously authorized for part of the same service.
(b) In accordance with the provisions of subsection (d) of
Section 63.401 of said title, the deposits required to be made to the Texas
Municipal Retirement System by employees of the several participating
departments on account of current service shall be calculated from and after the
date aforesaid on the full amount of such person's earnings as an employee of
the City.
SECTION 2. Increase in Retirement Annuities.
(a) On terms and conditions set out in Section 64.203 of Title 1106,
Revised Civil Statutes of Texas, 1925, as amended, the City of Corpus Christi
hereby elects to allow and to provide for payment of the increases below stated
in monthly benefits payable by the Texas Municipal Retirement System to retired
employees and to beneficiaries of deceased employees of this City under current
service annuities and prior service annuities arising from service by such
employees to this City. An annuity increased under this Section replaces any
annuity or increased annuity previously granted to the same person.
(b) The amount of annuity increase under this Section is computed as
the sum of the prior and current service annuities on the effective date of
retirement of the person on whose service the annuities are based, multiplied by
09P.138.01
19556 MICROFILMED
40 percent of the percentage change in Consumer Price Index for All Urban
Consumers, from December of the year immediately preceding the effective date of
the person's retirement to the December that is 13 months before the effective
date of this ordinance.
(c) An increase in an annuity that was reduced because of an option
selection is reducible in the same proportion and in the same manner that the
original annuity was reduced.
(d) If a computation hereunder does not result in an increase in the
amount of an annuity, the amount of the annuity will not be changed hereby.
(e) The amount by which an increase under this Section exceeds all
previously granted increases to an annuitant is an obligation of this City and
of its account in the municipality accumulation fund of the Texas Municipal
Retirement System.
SECTION 3. Effective Date.
Subject to approval by the Board of Trustees of Texas Municipal
Retirement System, the updated service credits and increases in retirement
annuities granted hereby shall be and become effective on the 1st day of
January, 1987.
SECTION 4. That upon written request of the Mayor or five Council
members, copy attached, to find and declare an emergency due to the need for
efficient and effective administration of City affairs, such finding of an
emergency is made and declared requiring suspension of the Charter rule as to
consideration and voting upon ordinances or resolut'ons at three regular
meetings so that this ordinance is passedlind shall i e effect upon first
1eealig as an emergency measure this the day of
ATTEST:
(3.9
City Secretary
MAYOR
THE CITY OF CORPUS CHRISTI, TEXAS
APPROVED: I7 DAY OF Navei..Ler , 1914
HAL GEORGE, CITY ATTORNEY
09P.138.01
Corpus Christi, Texas
zi14 day of
, 198_
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
For the reasons set forth in the emergency clause of the foregoing ordinance
or resolution, an emergency exists requiring suspension of the Charter rule
as to consideration and voting upon ordinances or resolutions at three
regular meetings; I/we, therefore, request that you suspend said Charter rule
and pass this ordinance or resolution finally on the date it is introduced,
or at the present meeting of the City Council.
Respectfully, Respectfully,
Council Members
MAYOR
THE CITY OF CORPUS CHRISTI, TEXAS
The above ordinance was passed by the following vote:
Luther Jones
Dr. Jack Best
David Berlanga, Sr.
Leo Guerrero
Joe McComb
Frank Mendez
Bill Pruet
Mary Pat Slavik
Linda Strong
99.045.01
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